But here's part of a WSJ story with news that Saint Paul had previous
contact with the Anderson executive handling Enron, from whom Volcker's
group was soliciting a large donation.
< snip >age]THE RISE AND FALL OF ENRON Enron Hoped to Extend Influence To International Accounting GroupBy GREG HITT and MICHAEL SCHROEDER Staff Reporters of THE WALL STREET JOURNAL WASHINGTON -- Enron Corp.'s interest in [Image] expanding its political influence extended to a little-known group that sets international accounting standards, according to a newly released e-mail from Enron's former accounting firm. The embattled Houston energy trader, which was approached early last year about contributing $500,000 over five years to the London-based International Accounting Standards Board, wanted to know what kind of "formal or informal access to the process" it would buy, according to the e-mail by David Duncan, then a partner at Arthur Andersen LLP, Enron's auditor. See full coverage of the The board is an industry-funded group formed Enron saga1. to harmonize accounting rules world-wide, and routinely solicits companies in the industries it examines. But Enron officials were intrigued with its request "given Enron's desire to increase their exposure and influence in rule-making broadly," the Duncan e-mail said. The board received a letter from Enron suggesting it would be "delighted to contribute," recalled Tom Seidenstein, director of operations for the foundation overseeing the board. But the firm never followed through on the board's overture, made in February 2001 by former Federal Reserve Chairman Paul Volcker. Mr. Volcker is chairman of the trustees who oversee the board -- and now also is heading up an outside panel studying Andersen's audit practice.
Gene Coyle
